Lukashenka Says Currency Won't Be Devalued, Announces China Loan

Belarus President Alyaksandr Lukashenka says the national currency will not be devalued after the beginning of the new year.

During a meeting with university students in Minsk on December 21, Lukashenka said the country's gold and foreign-currency reserves are at an all-time high and the government is prepared to take necessary measures to support the currency.

The Belarusian ruble has been devalued repeatedly since 2010.

Lukashenka also said China has agreed to give Belarus a $1 billion low-cost credit.

He added that Minsk has appealed to Moscow for a $2 billion loan as well, saying he told Moscow "if we are brothers, you must help us in this crisis."

He said that Moscow has agreed to provide Belarus with 23 million tons of oil in 2013.